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One Up On Wall Street: How To Use What You Already Know To Make Money In the Market Paperback – 3 Apr 2000
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Anise C. Wallace The New York Times Mr. Lynch's investment record puts him in a league by himself.
From the Back Cover
THE NATIONAL BESTSELLING BOOK THAT EVERY INVESTOR SHOULD OWN
Peter Lynch is America's number-one money manager. His mantra: Average investors can become experts in their own field and can pick winning stocks as effectively as Wall Street professionals by doing just a little research.
Now, in a new introduction written specifically for this edition of One Up on Wall Street, Lynch gives his take on the incredible rise of Internet stocks, as well as a list of twenty winning companies of high-tech '90s. That many of these winners are low-tech supports his thesis that amateur investors can continue to reap exceptional rewards from mundane, easy-to-understand companies they encounter in their daily lives.
Investment opportunities abound for the layperson, Lynch says. By simply observing business developments and taking notice of your immediate world -- from the mall to the workplace -- you can discover potentially successful companies before professional analysts do. This jump on the experts is what produces "tenbaggers", the stocks that appreciate tenfold or more and turn an average stock portfolio into a star performer.
The former star manager of Fidelity's multibillion-dollar Magellan Fund, Lynch reveals how he achieved his spectacular record. Writing with John Rothchild, Lynch offers easy-to-follow directions for sorting out the long shots from the no shots by reviewing a company's financial statements and by identifying which numbers really count. He explains how to stalk tenbaggers and lays out the guidelines for investing in cyclical, turnaround, and fast-growing companies.
Lynch promises that if you ignore the ups and downs of the market and the endless speculation aboutinterest rates, in the long term (anywhere from five to fifteen years) your portfolio will reward you. This advice has proved to be timeless and has made One Up on Wall Street a number-one bestseller. And now this classic is as valuable in the new millennium as ever.See all Product description
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In this excellent book he makes the correlation between stock prices and earnings. Simply put it means that a company which is consistently able to increase its earnings will see its prices go up exponentially. This would be the multi bagger stocks everyone talks about and wants to own. He also explains the PEG ratio - this ratio basically denotes what should be the PE ratio that you should pay for a stock which has a certain earnings growth trajectory and prevent an investor from over paying for a stock. The book recounts all his various investments in a clear, logical and unambiguous manner. He also warns investors against selling stocks which have gone up a lot while holding stocks that have gone down - he says that it is like a gardener who plucks the flowers and waters the weeds - a phrase so descriptive that Warren Buffett called him for permission to use it in his Berkshire Hathway annual letters to shareholders. In one word Peter Lynch's philosophy can be classified as GARP - Growth At a Reasonable Price!
The main issues I have as an investor who has a dozen years of investing experience behind him are
1. He doesn't pay much attention to the broader market which can be catastrophic since even "Blue Chips" can go down by 50%. In 2008 - 09 the Nifty/Sensex were down more than 60% and most mid cap and small caps, which would be the ones with a reasonable PEG, were down 80% or more. A question you would need to ask is will you be able to stomach 80% of your portfolio value evaporating.
2. He also says that sometimes stocks that he buys don't move for many years. He has stated that a company he bought started showing returns only after 7 years. For an individual investor it is better to buy when there is a trigger.
Also what must be kept in mind is that Lynch took over as a Manager in 1977 when America was in stagflation because of the middle east oil crisis and stocks were available at dirt cheap rates. In 1981 Ronald Reagan became the President and along with Paul Volcker as Fed Chairman put in place policies that led to a market revival of epic proportions. From 1982 to 1991 when the Persian Gulf war took place US had a huge bull market and Lynch fortuitously was able to capitalize on it by buying during the lows in 1977 and rode the wave till 1990 when he retired.
For individual investors I would recommend Williams O'Neil's "How To Make Money in Stocks" which uses fundamental and technical factors for stock selection and other criteria for stock and market exit.
If you find this review useful then please press the "Yes" button for usefulness. Thanks and wishing you success in your investment journey.
This is an excellent book for some one who is starting out in stock investing. But it is also great manual for more experienced users to brush up the concepts again and again. This is my second copy. One bought many years ago is in tattered state now.
I would recommend this book to all stock investors. I know individual investors in India who have made Crores using the concepts given in this book. Lynch was one of the great investors of all time and he retired at age 46 to manage his own money and travel around the world.
The simple but commonsense investing principles espoused in this great book are timeless and will always work...even 50 years from now. Hence this book is now rightly considered by serious investors as an investing classic.
It teaches you everything from investing psychology, method to find good businesses to invest, how to analyze them, how to look for value, how to manage portfolio to get maximum gains and mistakes that you should avoid.
Also keep in mind the book available is paper back edition, not hardcover. Paper back is economy edition, don't expect paper quality to match hardcover edition.
One thing that you can for sure expect is very high quality investing education, on which "One Up On Wall Street" over delivers.
Mr. Peter Lynch has covered each & every aspects in so precise way that You will never put this book down in-between.
He has put more insight into type of companies depending on growth , cyclical's , turnaround & saturated business environment. Each & every point is explained very well ......Specially Now i go back to my portfolio to segregate it......
Never BUY Hot things ...When crowd is at entrance be there at Exit..........Few of the quote from Book which i like.
The book has focused more on How to find the Multibaggers ....non famous companies with high growth potentials....
At last Insight into How to interpret P/E ratio , Cash Flow , Growth rate
I like it ...Go & Read % stars.....for BOOK & AMAZON.....
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